P.O. S.B. Manual Vol. III - India Post

(3) Authorised Postmaster shall give his consent to the transfer of a certificate held on behalf of aminor only if, at the time of the proposed transfer, a parent or the guardian referred to in sub clause (i) or,as the case may be, sub-clause (ii) of clause (ii) of clause (b) of section 5 of the Act certified, in writing,that minor is alive and that such transfer is in his interest.(4) In every case of transfer, except the transfer under Rule 19, the original certificate shall beduly discharged and a new certificate bearing the same date as that of the original certificate surrenderedshall be issued in the name of the transferee.17. Omitted18. Conversion from ‘A’ type Certificate to “B” Type Certificate and vice -versa.113(i) A joint ‘A’ Type Certificate may be converted into a joint ‘B’ Type Certificate in the names ofthe same holders;(ii) A joint ‘B’ Type Certificate may be converted into a joint ‘A’ Type Certificate in the namesof the same holders.19. Pledging of certificate:- (1) On an application being made in the form laid down by the DirectorGeneral Posts by the transferor and the transferee, the Postmaster of the office of the registration may, atany time, before or after the period of its non-encashability, permit the transfer of any certificate assecurity to -(a) the President of India or Governor of a State in his official capacity;(b) the Reserve Bank of India or a scheduled bank or a cooperativesociety including a cooperative bank;(c) a Corporation or a Government Company; and(d) a local Authority.Provided that the transfer of a certificate purchased on behalf of a minor shall not bepermitted under this sub-rule unless the purchaser of the certificate certifies that the minor is alive andthat such transfer is for the benefit of the minor.(2) When any certificate is transferred as security under sub-rule (1), the Postmaster of officeof the registration shall make the following endorsement on the certificate, namely:-“Transferred as security to……………”(3) Except as otherwise provided in these rules, the transferee of a certificate under this rule, shall, untilit is re-transferred under sub-rule (4), be deemed to be the holder of the certificate.(3A) Notwithstanding anything contained in sub-rule (3), the pledger of certificate on which annualinterest is payable shall be entitled to receive the annual interest on such certificate. In such a case, thepledged certificate shall be presented to the Post Office at the time of collecting interest for the first time.(4) A certificate transferred under the sub-rule (2), may, on the written authority of the pledgee, be retransferredwith the previous sanction in writing of the authorised Postmaster and when any such retransferis made, the Postmaster of the office of registration shall make the following endorsement on thecertificate, namely:-“Re-transferred to……………………..”Note 1:- A Gazetted Officer of the Government accepting the certificate as security undersub-rule (1) or releasing the pledge under sub-rule (4) on behalf of the President of the Governor of aState, shall certify that he is duly authorised under Article 299 of the Constitution vide Notification